The Commerce Department announced on Wednesday the U.S. wholesale inventories rose 0.8 percent m-o-m in April, being in line with the preliminary estimate of a 0.8 percent m-o-m advance. This was the smallest monthly gain since December 2020.

Economists had forecast the reading to stay unrevised at 0.8 percent m-o-m.

In March, wholesale inventories rose 1.2 percent m-o-m (revised from 1.1 percent).

According to the report, durable goods inventories increased 0.7 percent m-o-m in April, while stocks of nondurable goods went up 0.9 percent m-o-m.

In y-o-y terms, wholesale inventories surged 5.2 percent in April.